IN THE NEWS TODAY
The GOP is drafting legislation to make permanent the reductions to individual tax rates and a provision that allows businesses to fully deduct expenses immediately, sources told CNBC. Under the current law, lower individual rates expire after 2025.
Larry Kudlow, President Donald Trump's new top White House economic advisor, said it's possible the administration's proposed tariffs on China may not take effect. Kudlow also called the stock market reaction to the trade moves "mild." (CNBC)
* China may be using US soybeans to hit Trump's political base (CNBC)
* Tariffs would hurt US consumers and companies, business group warns (CNBC)
President Donald Trump's national security advisor pick, John Bolton, has been meeting with White House attorneys about possible conflicts of interest, CNBC has learned. Bolton is slated to take over as national security advisor on Monday.
The president said he would deploy National Guard troops to the U.S.-Mexico border, but the troops will likely not have physical contact with immigrants or be responsible for processing them at the border, NBC News has learned.
The White House said Trump is "not involved" in the process of choosing whether Amazon (AMZN) receives a multibillion-dollar Defense Department cloud computing contract. Trump has attacked the company in recent days. (CNBC)
J. P. Morgan Chase (JPM) CEO Jamie Dimon wrote in his annual letter to shareholders that the market may be underestimating the chances that the Federal Reserve will have to act more quickly to rein in a growing U.S. economy. (CNBC)
* Read Jamie Dimon's full shareholder letter here (CNBC)
The U.S. is expected to sanction Russian oligarchs this week under a law targeting Moscow for meddling in the 2016 presidential election, sources tell Reuters. Trump has previously faced criticism for doing too little to punish Russia.
Google said today that it would boost security in YouTube offices globally after the shooting at the video platform's headquarters. Earlier in the week, a woman shot at least three people before dying from a self-inflicted gunshot wound. (CNBC)
The Food and Drug Administration asked internet service providers and social media companies, including Facebook (FB), Twitter (TWTR) and Alphabet's Google (GOOGL), to play a more active role in clamping-down on illegal online sales of opioid drugs. (Axios)
STOCKS TO WATCH
Delta Air Lines (DAL) and Sears Holding (SHLD) say some of their customer payment information may have been affected by a cybersecurity breach at software firm 1/8 24 3/87. The firm provides security services for a number of well-known companies.
Equifax (EFX) can be sued by Massachusetts over its 2017 data breach that exposed personal information from 147 million people, according to a ruling from a Suffolk County Superior Court Judge.
General Electric (GE) said it would provide restated results for 2016 and 2017 by April 13. The restated results were to reflect a new accounting standard impact revenue from long term contracts.
AMC Entertainment (AMC) will open up to 40 movie theaters in Saudi Arabia over the next five years after striking a new agreement with the kingdom. Saudi Arabia has not had a movie theater in more than 35 years.
J.M. Smucker (SJM) will buy pet food maker Ainsworth Pet Nutrition for $1.9 billion in cash to boost its pet food portfolio. Separately, the food maker said it was exploring alternatives for its baking business, which includes the Pillsbury and Martha White brands.
The global box office is making more money than ever, even as attendance in the U.S. has plummetted, a new report shows. The domestic box office fell by 2 percent to $11.1 billion. However, higher ticket prices and growth in China helped offset those declines. (Variety)